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College Planning
You’ve assumed the greatest responsibility in life—raising your children. As part of that duty, you’re likely contemplating their college education. That’s an undertaking that can overwhelm almost any parent.

One of the advantages of cash value life insurance, like whole life, is that it is exempt from the formula used to determine eligibility for college financial aid. While assets such as brokerage funds and bank accounts are considered countable assets in determining the Expected Family Contribution (EFC) for college, the cash value in a life insurance policy is not. By positioning assets in cash value life insurance, a family can lower their EFC and improve the chances of qualifying for scholarships or grants.
When planning for college parents have an option to purchase a MEC policy. The reason they choose to do this is the cash value in a life insurance policy isn't factored in when completing a financial aid (FAFSA) form, so monies in a MEC may improve a student's aid eligibility while simultaneously saving for college.
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